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Budget 2020 LIVE updates: FM Nirmala Sitharaman at Finance Ministry
Budget session 2020 LIVE updates: The Economic Survey is a detailed report card on the economic performance in the year
Economic Survey for 2019-20 was tabled in the Lok Sabha on Thursday, a day ahead of the presentation of the Union Budget for 2019-20. The Survey, which is the government’s report card for the year gone by and presents the health of the economy, comes at a time when the economy is slowing and consumption has staggered. Tomorrow, the finance minister Nirmala Sitharaman will present the Union Budget.
The Economic Survey projected India's economic growth at 6 per cent to 6.5 per cent in the next financial year starting April 1, saying growth has bottomed out. The growth in 2020-21 compares to a projected 5 per cent expansion in 2019-20.
Weak global growth impacting India as well as investment slowdown due to financial sector issues had led to growth dropping to a decade low in current fiscal, it said, adding 5 per cent growth projected for 2019-20 is the lowest it could fall for now.
Growth slipped to 4.5 per cent in the July-September quarter.
Prepared by the Government of India's Chief Economic Advisor Krishnamurthy Subramanian, the Economic Survey states that real estate companies lower home prices to clear their unsold inventories.